The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-12-02
Judge Sawyer Is Interviewed.
The New York Man Is Still a Vio-
lent Protectionist.
His Views About the Recent Defeat
of Republicans in New York.
The Republican Party, He Says, Is
Searching for a Policy.
Annual Report of the Comptroller OF
Currency and the Commissioner
Of Agriculture-Recomm
dations by Them.
special Dispatch to the Appeal.

special Dispatch TO the Appeal.
-JAsuINGToN, Dec. l.-Judge Sawyer,
81 Albion, N. Y, is the first one OF the
western New York members 10 arrive
in Washington. He was seen by your
correspondent today and asked his
views upon various topics which
have a national interest. Judge Sawyer
,Ssys that he is still an ardent protection
iet, and that he will not vote for any bill
which proposes TO attack the policy Of pro.
lection. He would, perhaps, favor the re-
peal OF the tax upon tobacco, but certainly
not on whisky, and while he thinks that
the duties on sugar should be abolished,
he also favors the payment Of bounties TO
American manufacturers Of sugar. Speak
ing OF the result in New York, he attrib-
utes the defeat of the Republican ticket 10
the TACT that the Republicans in New York
Endorsed the candidacy OF Nicoll. lie
says, very emphatically, that the party
should follow its own bent, and
never, under any circumstances, in
dorsc a Democrat, in hope OF win
ming Democratic support. lie believed
that the Endorsement OF Nicoll helped
Fellows, in that il increased his vote,
while il certainly was not OF the slightest
value 10 the State ticket. lie believes
also that the action OF the Republicans in
New York city injured their chances in
the rural districts. Concerning the policy
OF the party in Congress, Mr.. Sawyer gays
he thinks il is time for them 20 take hold
and do something He believe that there
should be some policy laid out, no matter
what the Democrats do, and that, instead
OF sitting back in their seats and watching
their opponents, il is the duty OF every Re
publican memberto Try his best TO secure
such legislation as the party believes in.
THE COMPTROLLER or cURRESCY's REPORT.
The twenty-fith annual report Of the
comptroller OF the currency, now in print,
win be presented 10 Congress on the iirst
day Of IFS session.
The report shows that the total number
az national banks organized up TO the 3lst
OF October is s, sos, OF which 625 have gone
into voluntary liquidation, 40 have failed,
leaving in operation at that date 1901. OF
this number, 3,0i9 furnished reports Of
condition % the date Of the last call, Octo-
Der 5, OF which a complete abstract has
been published.
The total number OF new banks formed
during the last year is 22i, the total num-
Der closed during the year l. 49, OF which
- went into voluntary liquidation, and
eight failed.
The new banks comprise five in New
England, thirty-thTcc ~ the middle States,
fifty in the southern States, 100 in the cen
trail States and thirty in the western
States and Territories.
OF the failed banks one WIS In New Eng.
land, two in the middle States, four in the
southern States, and one In the central
States.
The gross increase in national bank cap
ital during the year amounts 20 $50, S9i,
275, OF which 8. 00j represents an in
crease Of capital by banks exist.
ing November /, 1886. There has
been, however, decrease OF cap.
ital Of S., 322, so. Of which Si,0S7, IjC
Is the aggregate capital oi the thirty-thrco
banks which went into voluntary liquida.
ton and failed, and the remainder repre-
scnls a decrease OF capital by banks still In
operation.
The net increase Of capital for the year
Is, therefore, S3O,572,3sj On the other
hand, there l. a net decrease Of $50, i05, 5gC
in the circulation represented 10y bonds.
The decrease from the surrender OF cir
cuation by banks still In operation Is S57,
40, i75, and the decrease caused by banks
going into voluntary Liquidation and fail.
ine Is 81 ,2i7, $50, making gross decrease
OF $50, Oi4, SIS. offset by a total increase Of
circulation Of IS, $40, 26j, which consists Of
an increase by the formation Of new banks
al -, 500, 600, an increase Of circulation by
previously existing banks TO the amount
Of S3,0j7,17
Tho affairs Of five failed banks have been
closed during the year. including among
them one Of those which failed during the
gear. In four cases Of the five the cred
itons have received payment OF principal
and intercs, la full, and there has been n
balance Of assets transferred 30 an agent
Of the stockholders. In the other case
that Of bank which failed In 1879, the
total dividends amount 10 81 per cent.
In each case n detailed account In given
OF the cause Of failure and tho progress
made In liquidation.
Tic total amount Of money paid In div
idcnds duringi The past YEARS. ., JOG, 2O3. ~
the whole amount paid 10 creditors OF In
solvent banks since the system has beer
In operaiinn Is so. 43t 0s3, upon proved
claims amounting 10 SO, piS, 3os; the toia
assessments on stockholders, 5000, $50
tl NNltu gus N'ANNhvhn AaNN hNNi
sl,632,JGo
Very fall statistics have been COLLECTED
about the State banks, savings banks, lolr
and trust companies and private bank
and bankers throughout the country.
The suggestions made by the comptrollel
ns TO amendments 10 the laws are In TN,
form Of q code revising and olldatinl
al exi.linglaws, witha number Of charges
each OF which Il fully explained, and ih'
reasons for Il are set forth at considerable
length. The most important Of the changes
recommended Is that the minimum
amount Of bonds 10 be deposited ~ secur
ily for circulation shall be 10 per cent. o
the capital Of banks Of not over $4,000
and SIS, 900 for banks Of which the capita
exceeds S2j0,OO0; also that the semi-annua
duty on circulation be hereafter charge.
only on the amount Issued upon bonds de
posted In excess Of the minimum amour
rs above. lie also recommends that ui'
national bank notes be counted as part o
The lawful reserve Of banks
The existing provisions 81 law ~ 70 tn
responsibility Of officers and directors o
hanks are modified 80 asio avoid hcrcailo
existing obstacles to ;hcir prompt and Gel
tain enforcement
Tho restriction upon banks as TO maxim
loans in excess Of 10 per cent oi capilal